Show the solution in good accounting form 12. Ms. Smith borrowed P125,000 at 11% stated rate of interest and was to pay back the loan in 24 monthlypayments. What is her effective rate of interest?A. 10.56%B. 18.96%C. 21.12%D. 22.00%

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Description: Show the solution in good accounting form 12. Ms. Smith borrowed P125,000 at 11% stated rate of interest and was to pay back the loan in 24 monthlypayments. What is her effective rate of interest?A. 10.56%B. 18.96%C. 21.12%D. 22.00%

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Answered: payments. What is her effective rate of…

Business

Accounting

payments. What is her effective rate of interest?

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 22PROB

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